South Korea Tourism Market Scenario Thoroughly Canvassed by BMI RESEARCH in Its New Study Available at MarketPublishers.com29 Feb 2016 • by Natalie Aster
LONDON – At present, the tourism market in South Korea is following an upward trajectory and is expected to see healthy growth in the years to come, even in spite of the MERS outbreak of May 2015, which may become the key growth restraining factor for the market. The authorities of the country continuously make efforts to promote effectively the country’s tourism market and also to satisfy demand of both market segments, leisure holidays and business travellers.
Ongoing increase in the tourist arrivals number, particularly from the APAC region, will give an impetus to the tourism receipts value growth. By 2019, the total arrivals figure is likely to reach 17.6 million. Meanwhile, the international tourism receipts value is set to amount to USD 36.9 billion, posting 7.8% YoY growth through 2019.
Currently, the hotel sector of the South Korean tourism market remains under-developed. However, the approaching 2018 Winter Olympic Games are expected to open lucrative growth opportunities for this hotel sector.
The launch of additional routes (like Eastar Jet to Japan, Jeju Air to Vietnam, T'way air to Macau and Jin Air to Honolulu) contributes to the expansion of the international, low-cost air connections network.
The research report “South Korea Tourism Report Q2 2016” worked out by BMI RESEARCH delves deep into the South Korean tourism market, uncovers the country’s tourism market performance statistics (from 2013 to 2019) and pays special attention to the competitive landscape. The research study carefully overviews the key market segments, outlines the major opportunities and points out the top challenges. It also includes a detailed SWOT analysis. Furthermore, the report offers forecasts for the South Korean tourism market, describes future possible development trends and discusses prospects.
South Korea Tourism Report Q2 2016
Published: February, 2016
Price: US$ 1,295.00
Other new research reports by the publisher can be found at BMI RESEARCH page.